Nvidia's financial report was released, US stocks fell, and BTC briefly lost the $58,000 mark😀
After Nvidia's financial report came out, the US stock market plummeted. Surprisingly, Bitcoin did not follow. It did not follow at all. It has been doing things independently these days. When the US stock market rose, it plummeted. When the US stock market fell, it did not move at all.
Today, the overall market is still in the range of 57500, 58500 and 60500. This is where the bulls and bears curse each other. MACD turning point. Both bulls and bears are possible.
The probability of going down is greater than that of going up. The 2nd and 3rd day lines are relatively poor!#Bitcoin❗
In-depth analysis of this round of market fluctuations:
Profit-taking of bargain hunting funds in early August: some investors$BTC They bravely bought the bottom when the price touched the $50,000 mark. As the price recovered, these early profiteers chose to lock in their profits, which put a certain amount of pressure on the market.
The problems left over from Mentougou continue to ferment: a wave of selling of more than 50,000 BTCs has continued to intensify the instability in the market and significantly suppressed prices.
Cautious sentiment on the eve of PCE data release: As Friday's PCE (Personal Consumption Expenditures Deflator) data approaches, large investment institutions generally adopt a conservative strategy, worried about the adverse impact of potential economic data.
Current Market Outlook:
Based on yesterday's analysis, if there are no new negative factors, BTC is expected to form a solid support in the range of 58,000 to 59,000. After nearly half a month of sideways consolidation, this area has shown strong resistance to declines.
Plunge risk assessment:
The probability of a further drop to $50,000 is assessed at less than 20%, showing that the market has a strong support base around this price level.
Potential risk warning:
Movement of the remaining BTC in Mentougou: Any large-scale movement of the remaining approximately 30,000 BTC may become a new source of shock to the market. Geopolitical uncertainty: For example, a sudden escalation of the situation in Iran may trigger fluctuations in the global financial market and indirectly affect the cryptocurrency market.
Strategic recommendations:
Hold firmly and wait for the right time. Historical experience shows that market adjustments are often accompanied by new layout opportunities. The range of 50,000 to 55,000 US dollars has been regarded as an important layout area. The dealers re-layout in this range, intending to raise it to a higher price in the future to realize cash.
Positive impact of ETF capital injection: The recent continuous influx of ETF funds has not only increased the bottom support of BTC, but also demonstrated the recognition of the cryptocurrency market by mainstream financial institutions. As a global asset management giant, BlackRock's BTC ETF aims to make investors profitable, thereby attracting more funds to enter the market and injecting long-term vitality into the market.
Summary: In the face of short-term fluctuations, staying calm and patient, and believing in the long-term potential of the market and the operating logic of the bankers are the keys to seizing future opportunities.
$SOL $ETH
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